To whoever posted the front page on Wulf Int. Ltd. information...the info provided is old (SFM is not part of Wulf anymore) See below for an "old" update since August 29 of this year"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(D) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 29, 2002
Commission file number 0-8638
WULF INTERNATIONAL LTD (formerly Wulf Oil Corporation)
(Exact name of registrant as specified in its charter)
COLORADO
(State or other jurisdiction of
incorporation or organization) 83-0218086
(I.R.S. Employer
Identification Number)
2591 Dallas Parkway, Suite 300, Frisco, TX 75034
(Address of principal executive offices) (Zip Code)
972-292-3255
(Registrant’s telephone number, including area code)
Item 5. Other Events
On August 27, 2002, Wulf International Ltd (Wulf) executed an Agreement with C. Lee Bruner, Jr. of Grand Prairie, Texas to incorporate and register a mortgage banking and brokerage company in the Republic of the Philippines. The purpose of this new company is to provide mortgage funding for the buyers of the one million new homes expected to be built by the Southern Philippines Development Authority-Warisan Group Joint Venture (Joint Venture) for low-income families in the Southern Philippines. Wulf is a partner and equity owner in this Joint Venture.
Bruner agreed to incorporate, register and obtain the necessary license for a mortgage brokerage and mortgage banking entity in the Republic of the Philippines, subject only to (I) a determination that such entity is permissible under Philippines law and (ii) that the Philippines Home Guaranty Corporation, acting for and on behalf of the Republic of the Philippines, will provide said entity with full Sovereign guarantees of repayment of both principal and interest on all of the Joint Venture mortgages. All related expenses will be paid by Bruner.
In return for the exclusive nature of the relationship between Bruner and Wulf, Bruner agrees to pay to Wulf twenty-five percent (25%) of the Net Revenues accruing from the mortgage financing of the houses built by the Joint Venture. Net Revenues are defined as gross revenue less all related costs except management fees, salaries, rent, travel and other overhead expenses which are excluded.
Bruner will be appointed to the Executive Committee of the Joint Venture and to the Board of Directors of Wulf. Mr. Bruner is an international businessman with 25 years of experience in the securities and venture capital businesses both in the US and internationally. He holds Texas Mortgage Brokers License #2902 and is Managing Director of American Loan Source Inc. He is a graduate of the Harvard Graduate School of Business.
The Joint Venture expects to receive funding from private sources for the development costs of the project so that construction can begin in the 4th quarter, 2002.
SAFE HARBOR STATEMENT UNDER THE PRIVATE LITIGATION REFORM ACT OF 1995.
Statements contained in this document which are not historical fact are forward-looking statements based upon management’s current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WULF INTERNATIONAL LTD
Date: August 29, 2002 George R. Wulf, Chairman and CEO
thbg
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